Rock Point Advisors LLC Cuts Holdings in American Well Co. (NYSE:AMWL)

Rock Point Advisors LLC lessened its stake in American Well Co. (NYSE:AMWL) by 91.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 188,093 shares of the company’s stock after selling 2,120,524 shares during the quarter. Rock Point Advisors LLC’s holdings in American Well were worth $1,783,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in AMWL. Point72 DIFC Ltd raised its position in shares of American Well by 1,418.5% during the 2nd quarter. Point72 DIFC Ltd now owns 103,457 shares of the company’s stock worth $34,000 after acquiring an additional 96,644 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in American Well by 75.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 289,318 shares of the company’s stock worth $235,000 after purchasing an additional 124,441 shares in the last quarter. Cubist Systematic Strategies LLC lifted its position in shares of American Well by 7,673.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 184,083 shares of the company’s stock worth $60,000 after buying an additional 181,715 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of American Well by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 13,398,096 shares of the company’s stock valued at $10,862,000 after buying an additional 190,922 shares in the last quarter. Finally, Cowen AND Company LLC purchased a new position in shares of American Well in the 2nd quarter valued at $81,000. 56.05% of the stock is owned by institutional investors and hedge funds.

American Well Price Performance

Shares of AMWL stock traded down $0.26 during midday trading on Tuesday, hitting $9.05. The company had a trading volume of 9,267 shares, compared to its average volume of 106,526. American Well Co. has a 52-week low of $5.00 and a 52-week high of $31.60. The company’s 50 day simple moving average is $9.43 and its 200 day simple moving average is $8.68. The stock has a market cap of $138.65 million, a price-to-earnings ratio of -0.63 and a beta of 1.04.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AMWL shares. Needham & Company LLC reissued a “hold” rating on shares of American Well in a research report on Thursday, October 31st. Wells Fargo & Company reduced their target price on American Well from $40.00 to $15.00 and set an “equal weight” rating for the company in a report on Tuesday, August 6th.

Insiders Place Their Bets

In other news, CFO Robert Shepardson sold 5,177 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $7.87, for a total transaction of $40,742.99. Following the completion of the transaction, the chief financial officer now directly owns 112,992 shares of the company’s stock, valued at approximately $889,247.04. This represents a 4.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Kathy Johnson Weiler sold 7,266 shares of American Well stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $7.87, for a total value of $57,183.42. Following the completion of the sale, the insider now owns 188,027 shares in the company, valued at approximately $1,479,772.49. This trade represents a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,640 shares of company stock worth $173,939. 12.80% of the stock is owned by insiders.

American Well Company Profile

American Well Corporation, an enterprise platform and software company, delivers digitally enabling hybrid care in the United States and internationally. The company offers Converge, a cloud-based platform that enables health providers, payers, and innovators to provide in-person, virtual and automated care; and delivers virtual primary care, post-discharge follow-up, chronic condition management, virtual nursing, e-sitting, on-demand and scheduled virtual visits, specialty consults, automated care, and behavioral health, as well as specialty care programs, including dermatology, musculoskeletal care, second opinion, and cardiometabolic care to patients and members.